Former automotive business CEO, Michael Leiters steps down
McLaren Group Holdings, Chief Executive Officer, Nick Collins, will lead McLaren Automotive alongside his responsibilities at Group level, which includes overseeing CYVN Holdings’ majority shareholding in McLaren Licensing and the Group’s non-controlling stake in McLaren Racing.
Earlier this month, Abu Dhabi advanced mobility investment vehicle, CYVN Holdings, successfully acquired McLaren Automotive, and began to integrate it with its anchor UK investment, luxury start-up, Forseven.
The change in leadership begins with immediate effect. Collins takes on this role after Michael Leiters, former Chief Executive Officer, McLaren Automotive, stepped down from the position.
Leiters joined the company in July 2022 during a particularly challenging period. His contribution and leadership were crucial to the company’s transition, including important phases like the recapitalisation and change of ownership.
During his tenure, he oversaw the launch of the multi award-winning 750S, the launch of the new Artura Spider and Coupe, Solus GT and the recently revealed W1 – the next chapter in McLaren’s legendary ‘1’ car lineage.
Leiters commented: “I am honoured to have led McLaren Automotive over the past three years. I am thankful having worked alongside such a dedicated and talented team. I’m proud of what we’ve achieved together and confident that the business is on a strong path for success. I wish all involved the very best in the future.”
CYVN and McLaren Group Holdings Chairman, Jassem Mohamed Bu Ataba Al Zaabi, said: “Michael has played a crucial role during his time at McLaren Automotive and we thank him for all he’s achieved during his tenure. We wish him every success in his future endeavours.”
Nick Collins, McLaren Group Holdings CEO added: “We thank Michael for his leadership and tremendous contributions made during a pivotal time for McLaren Automotive. I wish him well in his personal and professional future.”
